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Code · Louisiana · Title 47 — Revenue and Taxation

RS 47:4303

310 words·~1 min read·/la/title-47/47-1062

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RS 47:4303
§4303. Review of exemption applications
A. Applications for contracts of exemption shall be addressed to Louisiana Economic Development, and a notice of the application and amount and type of exemption thereof shall be transmitted to each member of the legislature and to the assessor and governing authority of each political subdivision wherein the manufacturing establishment is located or is to be located, at the same time that the application is sent to Louisiana Economic Development. Louisiana Economic Development shall review applications to determine whether the requirements for an exemption contract have been satisfied and shall determine whether exemptions should be provided in a contract of exemption to be recommended to the Board of Commerce and Industry.
The Department of Revenue shall aid Louisiana Economic Development in determining whether the tax information furnished by the applicant is true and correct.
B. The Board of Commerce and Industry shall review any recommendations for exemptions made by the governor and Louisiana Economic Development. The board shall conduct public hearings on any application for exemption, upon such terms and under such procedures as it shall provide by rule. The board shall forward its recommendations, together with the proposed contract between the board and the applicant and all other supporting documents, to Louisiana Economic Development, to the governor and the Legislative Budget Committee, to the assessor and to each member of the legislature, and to the governing authority of the political subdivision prior to action by the governor thereon.
Upon receipt of the recommendations and proposed contract the governor and the Legislative Budget Committee shall each have thirty days to approve or reject the contract and, if approved, to thereafter return the contract to the board, Louisiana Economic Development, and the Department of Revenue for implementation.
Added by Acts 1982, No. 773, §1; Acts 1997, No. 658, §2; Acts 2005, No. 403, §1.
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